We have some exciting news to share. Today, we’re announcing the successful completion of a significant $65 million growth equity investment from Updata Partners, a prominent growth equity firm. This milestone comes on the heels of widespread developer adoption and marks the first time that we have raised outside capital.
Being a boostrapped company has always been a source of pride for us. However, it can also be a limiting factor. The investment from Updata Partners allows us to move faster than we would have been able to otherwise. As part of this investment round, two folks from Updata, Dan Moss, Principal, and Jon Seeber, General Partner, will join FusionAuth’s board, bringing their expertise and insights to the company’s journey.
Founded in 2018, FusionAuth has achieved profitability and bootstrapped its way to success prior to this significant investment. The platform has already made its mark across six continents, serving over 450 customers, including renowned brands such as Frontdoor, Oppenheimer & Co, Stihl, and Trusted Media Brands. We’ve grown by over 100% year over year, and we look forward to moving even faster now.
What sets FusionAuth apart is our free community edition, which has been downloaded over 13 million times. This edition empowers developers to seamlessly integrate registration, login, and user management features into their applications while adhering to industry standards.
Brian Pontarelli, our CEO, emphasized the significance of customer identity in today’s digital landscape.
“Authentication is a mission-critical component for most applications, but engineering and product teams can no longer afford to take on the risk and complexity required to build their own solution.”
Developers leverage FusionAuth for a myriad of functions, including multi-factor authentication, passwordless login, passkey support, machine-to-machine authentication, robust security controls, and advanced threat detection. Our library of APIs and SDKs, combined with compatibility with any language or architecture, make us a preferred choice among developers.
FusionAuth offers unparalleled hosting flexibility, allowing deployment on nearly any computer worldwide. Whether it’s running FusionAuth locally, on virtual/cloud servers, on dedicated hardware (even those without internet connections), or utilizing FusionAuth Cloud’s global managed hosting, we give developers complete control.
Dan Moss of Updata expressed his excitement about this partnership:
“FusionAuth’s developer-centric approach is redefining the market by removing friction and complexity of customer identity management --- historically huge pain points --- from the development process. With their impressive footprint and best in class feature set, FusionAuth is positioned to continue claiming market share over their competitors, and we look forward to partnering with them in this next phase of growth.”
We earned a spot among the 2023 Inc. 5000 Fastest Growing Companies in America and recognition as one of the top 2023 Colorado Companies to Watch. We were also named one of BuiltIn’s Best Places to Work in 2023.
As you might guess, we’re hiring!